ULIPs allow you to choose the amount of life cover according to your needs. Most policies offer a minimum life cover of 10 times the annual premium, but depending on the policy and insurer, you can opt for a cover amount up to 40 times your annual premium or even higher.
ULIPs offer the flexibility to invest in various funds based on your financial goals and risk tolerance. You can choose equity funds for potential high returns if you're comfortable with market risks, or debt funds for more stable and conservative returns.
ULIPs provide the option of partial withdrawal+, allowing you to access a portion of the invested funds. This feature can be useful for covering immediate expenses like your child’s education fees, a family vacation, or emergencies. Typically, partial withdrawals are free of charge.
ULIPs are designed to help you achieve specific financial goals, such as wealth creation, retirement planning, or saving for your child's education. They offer the dual benefit of investment growth and financial protection, ensuring your premium contributes to securing your future objectives.
Investing in a ULIP provides tax advantages under the Income Tax Act, 1961. You can enjoy tax benefits at various stages of your life insurance policy, making ULIPs a tax-efficient investment option.